Financial Reporting

Delegating Financial Reporting Services.

Today every organization requires financial reporting services.  Financial reporting and analysis has become crucial for all businesses today because financial reports are necessary to assess a company’s financial performance. Organizations need to know and understand how their organization has fared during a specific financial year.

Financial reporting and analysis is a practice which is conducted by every organization or business to analyze and assess the company’s financial performance in the previous financial year. Financial reports give the organization an analysis of how the organization is performing. An organization can find out if its performance was excellent, good, satisfactory or poor with the help of effective financial reporting services.

Delegating financial reporting services to TransVisionary Solutions will give you access to professional and effective financial reporting and analysis services.  Our expert financial reporting services can help you make informed business decisions.  We can provide competent financial reporting services.  Delegate financial reporting services to us and benefit from expert services.

At TransVisionary Solutions we can prepare financial statements and reports and give you a detailed analysis of the financial performance of your organization.  We can assess the financial reports of your organization and give you a report of the overall profitability of your organization.

TransVisionary Solutions Financial Reporting Services:

We have a skilled and well trained financial services team that can provide efficient financial reporting services.  Delegating financial reporting services to us can help you benefit from professional services at a cost-effective price.  You can also save on time, effort and resources.  Our accurate financial reporting services can help you gain a perspective of where your organization stands.  Our effective reporting services can help you make informed business decisions about your organization’s future.

We can provide the following professional financial statements:

An income statement that summarizes the costs, expenses and revenue acquired over a particular period of time.  This period of time will usually be a year or a fiscal quarter.  This financial report provides information about the capability of the organization to make profit by minimizing costs and maximizing revenue.  The income statement is one of the important statements that are prepared during financial reporting. This report is also called a “profit and loss statement,” or “income and expense statement.”

Monthly Income Statements:

Monthly income statements are prepared to provide sum-marized information for the latest twelve month period.

Balance Sheet:

The balance sheet is the most vital of all financial statements because it displays the organization’s net equity, assets and liabilities as of a specific date.

Statement of Cash Flow:

This statement provides a summary of the organization’s cash flow activities.  This includes the organization’s investing, financing and operating activities.  The statement of cash flow also displays the organization’s beginning and ending bal-ances of cash.  It also highlights the uses and the sources of cash for that particular year.

Bank Reconciliation Report:

The bank reconciliation report presents information about the cash balance shown on an organization’s books at a specific date. This report settles this balance with the amount displayed on the bank statement of the organization.

Payroll Register:

The payroll register displays information in an alphabetical order about all the employees who were paid during a particular month.  Payroll taxes and other deductions from gross salaries are displayed.

Journal Entry and Check Register:

The journal entry register displays the checks written during a specific month.  The register collates the checks with the general ledger accounts that they have been charged to.  The register also displays the dates when the check was written.

Detail General Ledger Report:

This report exhibits all the organization’s activities for a particular month.

Business Analysis Report:

This report provides financial information from the income statement, cash flow statement and balance sheet. This information is effectively used to calculate key performance metrics, and can also help you analyze the financial performance of your organization.

Financial Analysis Report:

This report evaluates the balance sheet of the latest month with the balance sheet of the previous month.  The report displays the changes in the equity, assets and liabilities.

Operations Analysis Report:

This report presents the expenses, costs and sales by category. For each type of sales, the gross profit and percent of gross profit is displayed and the same is done for the expenses.  The report displays information pertaining to a particular month and compares information between current and previous years.

By delegating Financial Reporting Services to TransVisionary Solutions —

You will save on time, effort and manpower.

You will be better able to focus on your core business.

You will make informed business decisions with our professional reports.

You will have fast and accurate services that are cost-effective and high-quality.

TransVisionary Solutions’ entire range of financial services works on completely locked down system channels with assurance of total financial data security.

Delegate to TransVisionary Solutions and benefit from professional statements and reports which can help you make better business decisions.

Account Reconciliation Services:

The business activity in most organizations today is multilayered and complex.  However, despite sophisticated accounting systems in use to cater to these needs, account reconciliation continues to be that one indispensable step to assure that all the figures add up correctly.
Account reconciliation is the procedure of verifying that all accounting records of an organization are consistent with the bank statements.  It also assures that the various components of the company's financial statements agree with each other.

Account reconciliation thus entails a detailed check of an organization's financial records, bank statements, client and vendor bills and all supporting documents to detect discrepancies, address them and reconcile the final balance.  It accounts for checks outstanding, deposits in transit and reveals errors in the records.

Account reconciliation is an integral part of a company's internal financial controls.  Accurate account reconciliation reports are an indication of effective tracking and interim controls. Accounting reconciliation is a vital tool for com-pany auditors to determine the veracity of a company's financial statements and its internal reporting.

We will —

Reduce administrative and accounting expenses.

Streamlined procedures using automated reports and online tools.

Leverage accounting expertise of best-in-class accountants.

Achieve regulatory compliance with laws such as the Sarbanes-Oxley Act.

Access state-of-the-art Account Reconciliation soft-ware.

Increase financial controls with accurate and timely information.

Improve fraud protection.

Our team interacts with your accounting department to understand the existing reporting systems and financial controls prevalent in your organization.  After consultations and discussions, the need, if any, for any process variations, additional records, or internal accounting reports is deter-mined.  We undertake several levels of account reconciliation such as:

Reconciliation of internal accounting records with bank statements.

Reconciliation of credit-card statements against bank statements.

Ledger reconciliation with vendor and buyer invoices.

Partial reconciliation.

Full reconciliation.

Deposit reconciliation.

Check sequencing.

The top-drawer accountants that form our account recon-ciliation team use a wide range of accounting software.  They advise you on the best software for your organization and help in designing accounting systems aligned to the business needs of your organization.  We have proven competencies and use a wide range of accounting software for Write-Up Services and Account Reconciliation Services. Some of the software packages frequently used at TransVisionary Solutions  are:

• Pro Tax
• Sage Line 50
• Quicken
• MYOB
• Peachtree
• IRIS
• Lacerte

Data Security Initiatives for Account Reconciliation Services:

One of the key concerns that clients often have when delegating account reconciliation services is the data security aspect since the delegating partner has access to critical accounting information of your organization.

TransVisionary Solutions has built-in confidentiality agree-ments in the SLA and has invested in high security infrastructure for data transfer.  Our team is made aware of the highly sensitive nature of the data they deal in and several levels of protection are put in place to assure that your company's internal information is always secure:

• Non-disclosure/Confidentiality Agreements.
• Service Centers that function as High Security zones.
• Secure Web Servers.
• Restricted access to registered and authorized users only.
• Virtual Private Network protection (VPN).
• 24/7 uninterrupted power supply.
• Encrypted file servers.
• Password protected systems.
• Biometric Access.

Our clients have improved their internal financial reporting and leverage as a direct result of the high quality of account reconciliation services offered by TransVisionary Solutions.

Some of the advantages of delegating account reconciliation to us are:

Highly competitive pricing.

Best-in-class accountants trained to offer expert account reconciliation services.

Rigorous data security systems.

Accounting reconciliation over flexible time periods based on client needs.

Customized formats accepted for input data.

Account reconciliations done for digitally or manually kept accounting records.

Data transfer via email, secure web servers or remote access.

Account reconciliation reports generated in custom-ized, digital/hard copy formats.

Account reconciliation services that work within the client's existing financial systems.

Updated systems and processes allow faster, more accurate tracking of transaction and accounting data.

Customer order processing in any business organization is as important as any other process in your customer acquisition and sales process.  Regardless of whether you are a Business to Business (B2B) organization or a Business to Consumer (B2C) organization (B2C), streamlining the processing of customer sales orders is necessary to improve customer relationships, especially if you are a small to medium sized company.

Consider any of these situations:

Your company faces a shortage of customer fulfillment resources and your current staff isn’t able to satisfy the orders coming through.

Management of your clerical and customer support personnel is taking time away from your core process and it is also increasing costs.

Compliance regulations and other governmental and legal obligations are increasingly more stringent and demand-ing.

Operating costs and overhead also add to the overall costs you are spending in your sales ordering process.

You are lagging in adopting technological innovations and improved business processes.

Monitoring inventory levels of your products/services and maintaining the optimum level of inventory is becoming increasingly difficult and are riddled with errors.

Core processes such as Sales and Marketing are taking a hit because of the increasing time and money spent on fulfillment and customer support and also due to the factors mentioned above.

These have a direct bearing on your sales orders and on your customer retention and growth plans.  Is there a way you can begin to mitigate and overcome this huge risk?